Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, US
AUM: $54.9 billion
Illinois Municipal Retirement Fund has approved $150 million-worth of commitments across two private real estate funds, according to a recent press release by the pension.
The commitments comprised up to $100 million each to Artemis Real Estate Partners Fund IV and $50 million to Basis Investment Group (BIG) Real Estate Fund II. The commitment to Artemis Real Estate Partners’ fourth real estate fund represents the pension’s fourth commitment to the firm’s real estate vehicles.
Both Artemis and Basis Investment Group (BIG) were selected by IMRF because they are women-owned businesses, with BIG being also minority-owned. Women and/or minority owned firms made up 22 percent of the pension’s investment portfolio, as of September 2021.
IMRF has a 6.29 percent allocation to real estate and has a target allocation of 10 percent.
The $54.9 billion US public pension’s recent private equity commitments have tended to target North American vehicles focused on a variety of strategies.
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